55 Too Young To Retire

2009-01-29T19:14:00.001-08:00

55 Too Young To Retire

So there I was having coffee with an up and coming executive. A good friend who was carrying the weight of his job around like a bad cold. I asked what was the problem, he said `my staff just doesn`t get it` .. I said stop right there!

His problem sounded just like me some 20 years ago. I was a purest, a corporate idealist. Just not listening to the people around me. I started telling him about `extreme listening`. You know, actually listening, without interrupting, just focused on what`s being said. Hearing what`s being said and not being said. That in itself is a learning experience.

Anyway long story short, I was basically telling him to break free from his habitual bad programming and come down to their level and really hear them out. As Wayne Dyer so aptly puts it `change the way you look at things and the things you look at change`.

He was keenly interested in what I was saying, so much so that he offered me a short term contract to help him out with some consulting. I said sure, why not. It`s just me sharing my anecdotal stories from my own school of hard knocks and getting paid for it.

So here`s the thing, we all have `lessons learned` and those lessons are worth real money to the right people. If you are looking for that contract it will elude you. When you aren`t looking for it, it always finds you and does so because you were `listening` and engaged in conversation.

This again adds to my Cash Quadrant 55 Too Young To Retire plan. Retire .. no way, no how!

55 Too Young To Retire

2009-01-19T10:37:00.001-08:00

55 Too Young To Retire

I think we all agree on that! But now what? Let me share an article I wrote recently called: The Wisdom of Robert Kiyosaki in a Bad Economy! I really think it applies to many ages but especially us at 55!

The Wisdom of Robert Kiyosaki in a Bad Economy!

Robert Kiyosaki wrote Rich Dad Poor Dad in 2000 and the advice he gives resonates better today than ever.

Mr. Kiyosaki asserts that we should all have multiple sources of income. Relying on a regular 40 hour a week job, not only keeps you broke, but should anything ever happen to that company or the economy ... well you get where I'm going here.

The horrific collapse of the US economy should motivate everyone to start listening to the idea of having multiple streams of income. And if you haven't read the book, let me just give you a small example.

I retired from a successful media career in 2002 at age 50. Way too young to retire. But what to do? Robert Kiyosaki's idea came to mind immediately, generate a regular monthly income from multiple sources. So off I went, and here are the actual results of my monthly income from a variety of income sources:

- Part time college professor $1,700.00 (teaching business principles)
- Part time affiliate sales income $1,500.00 (products with residual income only)
- Part time selling on eBay $1,000.00 (personal items & yard sales)
- Part time business consulting $1,000.00 (using my business background)
- Real estate income $1,000.00 (buying & flipping properties)

Total monthly income $6,200.00

Remember, I was free to put extra attention on any one of these sources if it felt like the opportunity was there. Affiliate sales income is a great example of that.

So in truth if any one of my income sources dried up for whatever reason, I was still going to be just fine. I had many opportunities to move back into a full time position after retiring, and I simply chose not to.

My wife and I bought and sold 5 properties over a 6 year period and after expenses and taxes, they netted us $160,000.00 or $2,222.00 a month over 6 years. I only counted it as $1,000.00 a month as that was my half, you see my wife and I are equal real estate partners.

eBay was an absolute blast! We had collected a great many things over the years and they always sold well on eBay. Then we started having fun with a few yard sales and auctions. It was the best fun ever, so it never felt like work at all.

As a part time college professor and business consultant the work was easy as it was all material I was well versed in. Thus easy to teach and a super opportunity to share a great many anecdotal stories from real life business experience.

Finally, my part time affiliate sales income. And I sincerely have to tell you, this was by far the most rewarding source of income. Selling other peoples goods and earning a commission. Unlike eBay where I would have to have the physical product on hand and then ship it, collect the money, trade emails with customers etc. Selling as an affiliate basically means I am only a middle-man. I never touch the actual product, I only facilitate the sale, and pick up a commission. No phone calls and no meeting people. I have no territory to worry about, I am able to sell the products anywhere in the world. I love this because it's online and selling for me 24/7. Nothing beats waking up in the morning, grabbing a coffee, and going online to find out you made 3 sales overnight and earned $200.00 . What a way to start the day!

Robert Kiyosaki's cash quadrant thinking has never been more important than right now. What I really like here is that you can take your multiple sources of income with you well into retirement. Take your laptop and spend a month in the winter, in a warmer climate, and focus all your attention on your affiliate sources of income. Crank up the other sources when you get back. In the end, it puts you in complete control of your financial situation. You rely on yourself and I love that!

So here's where I'm at with all this, affiliate marketing can be one way to fill time and make a very decent income. It also keeps you involved with the internet, which people our age really need to do in my opinion. So I want to leave you with a few choices to discover at your own speed. Click any of the colored links below and see if something feels right and doable for you.

Retired but far from retirement!

Mike Perras, P.Mgr

55 too young to retire

55 too young to retire

Also published at: The Wisdom of Robert Kiyosaki In A Bad Economy!